PRESS: Sweden's Tele2 Says Russia's SMARTS Worth $650 Mln

MOSCOW, July 3 (Prime-Tass) -- Swedish mobile operator Tele2 has estimated the assets owned by Russian regional mobile operator SMARTS to be worth between US$650 million and $750 million, SMARTS' First Deputy General Director Andrei Girev said, Biznes business daily reported Monday.

The two companies are currently in talks on SMARTS' sale to Tele2, Girev said confirming earlier reports. He said, however, that no agreement has been reached yet.

Carl Magnus Stenberg, CEO of Tele2 Russia, did not confirm the talks, the daily reported.

SMARTS' shareholders have been in talks on selling the company with several mobile operators since mid-2005.

Tele2 is the fourth largest mobile operator in Russia with about 4.4 million users as of June 1, while SMARTS is the sixth largest mobile operator in the country with 3.29 million users, according to Advanced Communications & Media (AC&M).

SMARTS' shareholders are its General Director Gennady Kiryushin, who controls with his relatives directly and indirectly about 80%, and SMARTS' Chairman Boris Skvortsov with about 15%.

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Posted to the site on 3rd July 2006